Also in February 2011, Keith Kennedy, Ph.D. joined TyraTech as Vice President of Product Development.
Dr. Kennedy has more than 22 years of experience in the development of global
consumer products. As Director of S.C. Johnson and Son's (SCJ) Insect Control Product
Development Division, he led global development teams that successfully introduced over 75
new chemical specialty products worldwide, products that are now being sold in over 100 countries.
Dr. Kennedy's key product responsibilities at SCJ included: Raid® and Baygon® insecticides;
Off!® and Autan® insect repellents. Before moving into product development, Dr. Kennedy
directed the efforts of SCJ's Entomology Research Center. For the last five years, Dr. Kennedy
has worked as a private consultant for new insect control and repellent technology.
Other Business : As I write this report to you, we are in the process of relocating TyraTech's
operations to the Research Triangle Park (RTP) area of North Carolina. We are making this move
in order for the business to be located in a hub with other Life Science businesses. We believe
this will provide TyraTech with greater access to a talented employment base and other scientific
expertise through the vast network of public and private research facilities in the RTP area.
I am also pleased with the continued development of TyraChem, our innovative Joint Venture
with Chemplast International (Chemplast). As part of McNeel International Corporation,
Chemplast is a multinational plastics and master batch manufacturer. In 2011, the companies
continue working
together to develop innovative technology platforms that leverage TyraTech's
Nature's Technology™ insecticide platform into novel delivery systems.
Summary and Outloo k: We continue to be confident of TyraTech's technology and of our
ability to develop further products that our partners can commercialise, as evidenced by the new
products we have delivered to Terminix. We are also committed to leveraging these products
into other markets and to create significant shareholder value over the coming years.
While there is much work left to be done, we are proud of the accomplishments we achieved in
2010 and look forward to similar accomplishments in 2011 and beyond.
Alan Reade, Executive Chairman
20 June 2011
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